Market may open higher

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could gain 26 points at the opening bell.

In overseas stock markets, most Asian stocks declined. US stocks ended slightly higher yesterday, 9 August 2016 with the Nasdaq Composite index posting a fresh record close, as investors kept an eye on falling oil prices.

Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 144.15 crore yesterday, 9 August 2016, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 610.15 crore yesterday, 9 August 2016, as per provisional data.

Mahindra & Mahindra (M&M) will announce its Q1 June 2016 result today, 10 August 2016.

HCL Technologies turns ex-dividend today, 10 August 2016 for interim dividend of Rs 6 per share for the year ending 31 March 2017 (FY 2017).

Power Finance Corporation (PFC)'s net profit rose 8.64% to Rs 1712.55 crore on 5.91% rise in total income to Rs 7158.66 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 9 August 2016.

PFC announced that the board of directors of the company in its meeting held on 9 August 2016, have considered and gave in-principle approval for the merger of PFC Green Energy Limited (PFC GEL), a wholly owned subsidiary of the company with itself.

Key benchmark indices registered small losses yesterday, 9 August 2016 after the Reserve Bank of India (RBI) kept its benchmark lending rate viz. the repo rate unchanged after a policy review. The Sensex fell 97.41 points or 0.35% to settle at 28,085.16, its lowest closing level since 5 August 2016.

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